Korea: The Management of External Liabilities

摘要

The report assesses the structure of Korea's external liabilities in the light of general principles of liability management, current and anticipated country-specific characteristics, and developments in international capital markets. While stressing that neither the level nor the composition of Korea's external liabilities poses an immediate problem. the report notes deficiencies with respect to the sharing of risk, the correlation of debt services with ability to pay, and the diversification of sources of financing which could present difficulties in future periods of foreign exchange scarcity and economic stagnation. (Copyright (c) 1988, The World Bank.)